Speedo has cancelled its sponsorship deal with Ryan Lochte after it emerged last week that Lochte lied about getting robbed at gunpoint by thieves posing as Rio cops.
When in fact, together with others they had vandalised the bathroom of a gas station and were only held at a gunpoint by the security to prevent them from escaping before the arrival of called Law Enforcement Officers.
Now, swimwear maker-Speedo USA has stated today-Monday it was dropping Olympic gold medal swimmer as a paid endorser.
Speedo Cancels Ryan Lochte's Sponsorship Because of His Rio Lies & Donates $50,000 of Lochte’s Fee to Save Children in Brazil